(Bloomberg) -- Wells Fargo & Co. has hired equity capital markets banker Cully Davis as head of its growth ECM franchise, according to a person familiar with the matter.
Davis will join the bank in San Francisco next week as a managing director, the person said, asking not to be identified because the information isn’t yet public. He’ll report to Clay Hale and Jill Ford, Wells Fargo’s co-heads of ECM, with additional accountability to banking chairman Rob Engel.
A representative for Wells Fargo confirmed the hire and declined to comment further.
Davis was most recently the vice chairman of ECM and head of West Coast TMT investment banking at Jefferies Financial Group Inc. Prior to joining Jefferies in 2016, Davis spent 12 years as co-head of Americas ECM at Credit Suisse.
Led by Chief Executive Officer Charles Scharf, Wells has been hiring to build out its investment banking franchise to better compete with rivals. It has hired Derek Van Zandt from Citigroup Inc. as its head of media and telecom investment banking and Tom Cho from Deutsche Bank AG as a managing director leading technology mergers and acquisitions.
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